Top 5 Cryptocurrency Exchanges Similar to Binance

Cryptocurrency exchanges provide a useful service for almost any participant in the crypto ecosystem. Whether you want to actively trade cryptocurrencies in hopes of turning a profit, acquire a promising altcoin for a buy and hold strategy, or cash out your crypto holdings for fiat currencies, there is a crypto exchange that’s suitable for the job.

Currently, Binance is undoubtedly the king of the cryptocurrency exchange sector. A quick signup process, large selection of cryptocurrencies and good liquidity across a range of trading pairs have made Binance an extremely popular option among cryptocurrency traders. Here, we should also mention Binance’s Launchpad platform, which allows Binance users to participate in initial exchange offerings (IEOs).

Even though Binance has many positives going for it, the exchange is not perfect – for example, it does not feature trading pairs with fiat currencies, but uses various stablecoins such as USDT and PAX instead. Recently, the exchange has introduced credit card purchases for 5 cryptocurrencies, but fiat currency trading is still unavailable.

In this article, we will be taking a look at 5 cryptocurrency exchanges that can be used as alternatives to Binance and explain their similarities and differences.

1. KuCoin

Kucoin is a smaller cryptocurrency exchange, but it is similar to Binance in many ways. Like Binance, it does not support fiat currency trading, but has a large selection of altcoins on offer. This is probably Kucoin’s strongest suit, as the exchange has solid liquidity for cryptocurrencies that can’t be found elsewhere or can only be found elsewhere on markets with poor liquidity.

Like Binance, KuCoin has its own IEO platform called KuCoin Spotlight, which has thus far hosted the MultiVAC and Trias IEOs. KuCoin also supports credit card crypto purchases.

2. OKEx

OKEx ranks among the biggest players on the cryptocurrency exchange scene and lists a wide variety of crypto assets. One of the biggest differences between Binance and OKEx is that the latter offers futures contracts and margin trading, while Binance does not offer this functionality as of now. In addition, OKEx offers an over-the-counter (OTC) trading feature and an IEO platform called OK Jumpstart.

3. Huobi Global

Huobi Global is the biggest exchange operated by Huobi Group. It offers credit card cryptocurrency purchases in addition to OTC trading and an IEO platform dubbed Huobi Prime. A unique product offered by Huobi is the HB10 Index, which tracks the performance of 10 different cryptocurrencies. This product is interesting for users who want to diversify between some of the largest cryptocurrencies on the market.

Apart from these features, Huobi supports a large selection of digital assets, including some cryptocurrencies that cannot be found on Binance.

4. Bittrex

Unlike the previously mentioned exchanges, which originated in Asia, Bittrex is a United States-based cryptocurrency exchange. For non-US users, Bittrex has developed Bittrex International, an exchange that lists new crypto assets faster than its US counterpart due to a different regulatory environment.

Bittrex supports fiat currency trading for international customers as well as customers from a number of US states. Fiat support, a strong track record on security and a large selection of cryptocurrencies available for trading make Bittrex a strong contender in the cryptocurrency exchange space. Recently, Bittrex has also started hosting IEOs.

5. Poloniex

Poloniex is a US-based cryptocurrency exchange that’s owned by Circle, a prominent player in the cryptocurrency industry. The platform supports fiat currency trading and even cryptocurrency lending.

Poloniex’s selection of listed assets is not enormous, but it’s not exactly small either. Poloniex also features margin trading, and has recently made some innovative moves such as being one of the first exchanges to support trading for GRIN and ATOM. For users that want a versatile cryptocurrency exchange that offers fiat trading and allows traders to try their hand at margin trading, Poloniex is a solid choice.

Conclusion

Whether you are a margin trader, altcoin speculator, IEO investor, or just want to buy some Bitcoin, there is likely an exchange out there that suits your needs. Hopefully, this guide has helped you make the right choice. You might also want to check out our list of top cryptocurrency exchanges and top IEO platforms.